Tacala cuts spread on $725 million term loan to SOFR plus 400 bps

By Sara Rosenberg

New York, Jan. 25 – Tacala Cos. reduced pricing on its $725 million first-lien term loan (B-) to SOFR plus 400 basis points from SOFR plus 425 bps, according to a market source.

Additionally, the original issue discount on the term loan was changed to 99.75 from talk in the range of 99 to 99.5, the source said.

As before, the term loan has a 0.75% floor and 101 soft call protection for six months.

KKR Capital Markets is the lead on the deal.

Commitments continued to be due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance the company’s existing first- and second-lien loans.

Tacala is a Vestavia Hills, Ala.-based franchise operator of Taco Bell restaurants.

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